An investigation into Harith General Partners has found no evidence of wrongdoing in allegations that it fleeced the Public Investment Corporation (PIC), a development that has the potential to help the infrastructure-focused private equity outfit to turn the page on a painful chapter in its 17-year history.

The investigation, conducted on behalf of the PIC and its biggest client the Government Employee Pension Fund (GEPF) by Nexus Forensics, emanated from a recommendation by the Mpati commission, which probed allegations that the PIC, Africa’s largest asset manager, had been reckless in some of the investment decisions it had been making...

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